User: When quantity demanded in a market is more than the quantity supplied, _____ occurs.
A. a surplus
B. an equilibrium
C. a shortage
D. a production possibility

User: A major characteristic of monopolistic competition is that prices will be
A. higher than in perfect competition.
B. lower than in perfect competition.
C. higher than in a true monopoly.
D. unrelated to the type of competition.

User: Why do public goods demonstrate the limitations of a free market economy?
A. They allow consumers to make all of the economic decisions.
B. They allow government to make some economic decisions.
C. They allow governments to control most economic decisions.
D. They prevent consumers from making economic decisions